§ 13.1-908.3. Director duties.
A. The board of directors shall cause the dissolved corporation to apply its remaining assets to discharge or make reasonable provision for the payment of claims and make distributions of assets to members after payment or provision for claims.
B. Directors of a dissolved corporation that has disposed of claims under § 13.1-908, 13.1-908.1, or 13.1-908.2 shall not be liable for breach of subsection A with respect to claims against the dissolved corporation that are barred or satisfied under § 13.1-908, 13.1-908.1, or 13.1-908.2.
(2007, c. 925.)
Sections: Previous 13.1-904 13.1-905 13.1-906 13.1-907 13.1-908 13.1-908.1 13.1-908.2 13.1-908.3 13.1-909 13.1-910 13.1-911 13.1-912 13.1-913 13.1-914 13.1-915 NextLast modified: April 16, 2009